#GOLD Sell📉 at 2516
StopLoss❗️: 2520
Scalp trading:
Take Profit 1️⃣: at 2512
Standart trading:
Take Profit 2️⃣: at 2502
Swing trading:
Take Profit 3️⃣: at 2490
👑 Ideas For #XAUUSD / #GOLD
📈 Risk zone! One step away from a prolonged correction
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GOLD is trading in the lower half of the key range. The price failed to hold above 2493, the market is spilling back to support. But, there are nuances pointing to both a rebound and a possible fall...
The trend is still bullish. The price is entering the risk zone of 2470 - 2480. If the bulls do not keep the price above this zone, we should expect a prolonged correction. But, there are Initial Jobless Claims and NFP report ahead, which traders are waiting for so much. The economic nuances can both strengthen local movements and revive the global trend.
On H1 the price is strongly declining to the support, such a fast movement is fraught with a rebound, which can bring the price back to 2493 - 2500 and this is probably the key movement. But there is a but everywhere! It is hard to tell from the volumes that the buyer is ready for any action. False breakout and consolidation above 2477 may affect the growth.
Resistance levels: 2493, 2500
Support levels: 2477, 2473, 2450
But the fall is not excluded. If there is no reaction to the 2477-2473 zone in the form of a rebound, and gold starts to consolidate near the support, then we should consider a decline, the key target of which could be the 2450 zone and the trend line on D1.
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#GOLD Buy📈 at 2482
StopLoss❗️: 2478
Scalp trading:
Take Profit 1️⃣: at 2486
Standart trading:
Take Profit 2️⃣: at 2496
Swing trading:
Take Profit 3️⃣: at 2509
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👑 Ideas For #XAUUSD / #GOLD
📈 Change of Mood (local). Correction phase
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GOLD is forming a local consolidation with gradually declining highs under pressure from the SMA 200 & 50 after breaking trend support. The dollar is forming a counter-trend correction at this time.
It is still unclear whether the decline in gold prices will continue as traders await Friday's NFP data.
Today, traders are expecting the release of the PMI index at 13:45 - 14:00 GMT.
A negative surprise from the PMI or a larger than expected slowdown in the index could revive hopes for a significant Fed rate cut. But attention should be paid to the actual data.
Technically, trading is inside the 2504 (2510) - 2493 range. The wider range is 2526 - 2477. There are no reasons to exit this range, so we consider trading inside the boundaries.
Resistance levels: 2504, 2510, SMA
Support levels: 2493, 2477
The price is testing strong resistance, a rebound and another retest of 2493 may follow, with the possibility of a breakout and decline, but it is necessary to follow the economic news, as a favorable tone may attract additional support and interest in the metal
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#GOLD Sell📉 at 2500
StopLoss❗️: 2504
Scalp trading:
Take Profit 1️⃣: at 2495
Standart trading:
Take Profit 2️⃣: at 2486
Swing trading:
Take Profit 3️⃣: at 2468
#GOLD Sell📉 at 2499
StopLoss❗️: 2503
Scalp trading:
Take Profit 1️⃣: at 2495
Standart trading:
Take Profit 2️⃣: at 2486
Swing trading:
Take Profit 3️⃣: at 2468
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#GOLD Buy📈 at 2489
StopLoss❗️: 2485
Scalp trading:
Take Profit 1️⃣: at 2494
Standart trading:
Take Profit 2️⃣: at 2503
Swing trading:
Take Profit 3️⃣: at 2509
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#GOLD Sell📉 at 2494
StopLoss❗️: 2508
Scalp trading:
Take Profit 1️⃣: at 2490
Standart trading:
Take Profit 2️⃣: at 2480
Swing trading:
Take Profit 3️⃣: at 2460
#GOLD Sell📉 at 2500
StopLoss❗️: 2504
Scalp trading:
Take Profit 1️⃣: at 2495
Standart trading:
Take Profit 2️⃣: at 2486
Swing trading:
Take Profit 3️⃣: at 2468
👑 Ideas For #XAUUSD / #GOLD
📈 Change of Mood (local). Correction phase
———————————————
GOLD is breaking the structure of the ascending channel amid the counter-trend correction of the dollar (fundamental reasons). Price closes in the range of 2526 - 2477, what could this mean?
On D1, the market is bullish both locally and globally. But, fundamentally and geopolitically the situation is slightly changing, which favorably affects the dollar exchange rate, against which gold goes into a local phase of correction. There is low liquidity in the market today due to the closed US market.
On H1, the focus is on the resistance 2505 - 2510, sma. False breakdown and price consolidation below these zones will confirm the absence of bullish potential, which may lead to price correction towards the lower boundary of the key range.
Support levels: 2483 (D1), 2493, 2477
Resistance levels: 2505, 2510, sma
The focus is on the global range 2526 - 2477, the price continues to trade inside and does not hint at a possible exit from this channel, accordingly, it is best to use the inturidian trading strategy. The main target is liquidity below the key support zones
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